Harvest Capital Partners CEO resigns
Hong Kong-based real estate investment firm Harvest Capital Partners faces a change of management, after CEO Rong Ren announced his resignation after seven years at the company.
Jiang Wei, vice-chairman of Harvest Capital and chairman of sister company China Resources Capital looks set to head up the firm following a transition period designed to minimize impact to the funds under the company's management.
"We have full confidence that under the leadership and guidance of Mr. Jiang, the impact to the operations of the company and the funds we manage will be minimal," said Gerald Yung, head of Transaction Management and acting chief operating officer of Harvest Capital. "It is very much business as usual for us."
Harvest Capital and China Resources Capital are both subsidiaries of the conglomerate China Resources Group.
Last year, Hong Kong-based real estate firm Nang Fung Group announced the launch of a $24 million venture fund with Japanese financial group SBI Holdings and Taiwanese financial corporation Shin Kong Group. SBI and Nang Kong each committed $6 million, while Shin Kong invested $12 million in the vehicle which would target private equity investments in Greater China.
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